Tesla announces plans for sub-$60K Model S sport-sedan

Tesla Motors made a big splash last year, with the introduction of their Roadster model. The car is 100% electric and can go from 0-60 in 3.9 seconds. That’s a big deal. Throw in the fact that the Roadster is also an attractive convertible, and you can see why Tesla’s stock just keeps rising and rising. Unfortunately, the starting price is US$109,000 with a lot of add-on costs for the less humble among us.

The Roadster is manufactured in California, so it seemed only natural that when announcing their plans for a new model, they would invite Governor Arnold Schwarzenegger to make the announcement for them. The new model, code-named the Model S, will be a, “multi-use sport sedan” that will cost less than US$60,000. There aren’t too many other details yet except for the reported ability of the car to get 225 miles on a single charge.

The Governator was also extremely pleased with Tesla’s decision to build a new factory in California to produce the new model, a decision which they admit was up in the air. While it would have always been a U.S. based company, they were thinking about heading east to New Mexico to build the new plant.

With the plant still not built, don’t expect the new model any time soon, but that’s ok. You can start saving now.

Speak Your Mind

willpantin

Gavin Robinson said:

"and you can see why Tesla's stock just keeps rising and rising."

Well, that is a truly remarkable comment! Tesla isNOT a publicly traded company; so I guess this Tesla stock you are talking about is only going up in some imaginary world, like "World of Warcraft", perhaps? There is no Tesla stock in existence! LOL

Anyway, for those of us interested in buying Tesla stock IF AND WHEN they decide to make a public offering, the rumour is they may make an IPO (initial public offering) sometime around November. For now, Tesla investors are limited to a private inner circle which has "E" Series bonds in their position to reflect their stake in the company.

SalCan

I'm pretty he meant stock in a figurative sense. As in people's feelings towards Telsa…